Presidio Production Company Completes $350M ABS Refinancing

Fort Worth, Texas - Presidio Production Company (NYSE: FTW), an oil and gas operator specializing in the acquisition and optimization of mature producing assets, has successfully closed a $350 million investment-grade asset-backed securitization (ABS) refinancing. The transaction enables the company to significantly lower its cost of capital and enhance financial flexibility.

The refinancing replaces the company's prior ABS with two new investment-grade tranches, both due in 2041: $175 million of 5.902% Class A-1 notes and $175 million of 6.717% Class A-2 notes. This move reduces the company's weighted average coupon by 184 basis points, down to 6.38%.

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